🙏 It's Time to Pray for Bitcoin
PLUS will this collection become the best Milady beta?
🗞 Market commentary.
GM, now we bow our heads and pray.
After yesterday's massacre, in which the highest number of longs were liquidated since April, BTC is back hovering above the magic production cost line of $60,000. We’re now on bounce watch, hoping to see Bitcoin swiftly reclaim at least $64K while flushing out the late shorters. And that’s where we all pray this isn’t just a bounce and the low sixty thousand area continues to hold. Let’s reassess as we go.
As I write this, we’re being hit by another FUD from Germany, once again moving almost $55M worth of BTC to Coinbase. All in all, it wouldn’t be surprising to see BTC visit the lows again, bounce again, and… continue like that for the rest of the summer, resulting in quite a typical seasonal price action.
The only potential savior? Donald Trump, who’s announced he’ll speak at a Bitcoin conference in Nashville this July. I’d wager we’ll see a sea of Pit Viper glasses at that event...
📊 Luke’s Chart of the Day
BANANA/WETH Uniswap 1D
Super strong daily chart for this trading bot active on Eth, Sol, Base and Blast. If you are too lazy to bridge and deal with the UX friction on Tonchain, this is a good option for an Ethereum-based token benefitting from the growth of that ecosystem.
Price is tapping away at the $54 high and seems likely to break out on the next one or two attempts. Just be prepared to buy another pullback as with almost any breakout trade this cycle. Check out today’s Round Trippers for a brief overview of how the TON eco is starting to kick off. Banana gets a mention around 57 minutes in.
Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!
🔥 Degen corner.
The Rise of Schizoposting
There's still hope for those who missed what might have been the last perfect Milady entry. In the upcoming months, we’re possibly entering a Remilia season, led by the release of the official CULT token, which recently scored a $20M community raise in just a few hours (and will most likely quickly appreciate once listed, be on your guard).
CULT is launching in July. While it will mainly boost the price action of official collections like Milady, Remilio, or YAYO, we might want to take a look at the best beta here: Schizoposters.
The improvement in AI since last year’s Schizoposters launch is astonishing. Given that Schizos are an AI-made collection, we can expect the upcoming V2 to look stunning and potentially take the NFT market by storm, just like V1.
I’m personally scooping these Schizoposters while they’re available and will wait to receive the V2 airdrop.
👀 DeFi insights.
The important bits.
Blast (L2) - Announces foundation for protocol governance ahead of airdrop - read
Swarm Market (RWA) - Introduces tokenized NFT gold - read
Mozaic (AI, DeFi) - Teases big announcement coming up on Friday - read
Mantle (L2) - Methamorphosis countdown before cmETH launch begins - read
Core DAO (BTC DeFi) - iZumi Swap is now live on Core chain - read
API3 (Oracles) - API3 stack is nove live on Rari Chain - read
AIOZ (AI) - AIOZ AI research paper was published & accepted at CAI - read
Clone (Cloned assets) - Features “Cloned PEPE” - read
Vertex (DEX) - Mantle rewards are now live on Vertex - read
📰 DeFi news.
Even more important bits.
Trump might flock to Nashville to talk at Bitcoin 2024 - read
White House welcomes back Biden's crypto policy architect - read
Amid CFTC investigations, Jump executive Kariya resigns - read
Ethereum Foundation's mailing list gets leaked - read
Crypto investment products register $584 million outflows - read
Germany continues to transfer Bitcoin to Coinbase - read
🫠 ICYMI.
Life gets busy so here’s what you’ve missed.
Round Trippers 25th June: Unlocked.
Podcast
Round Trippers is a weekly episode held in Discord for LARP NFT holders and Meal Deal subscribers.
Every Tuesday we cover the latest market happenings, on-chain analysis, our current portfolio holdings and our potential next moves.
🐥 Tweet of the day.
To save you doom scrolling.
Smolting joins the fight against scammy celebrities, love to see it. Offboarding simply must continue.
🦍 And finally…
Let’s imagine the worst-case scenario: Bitcoin falling under $60K and closing under there. Yes, it would probably look apocalyptic. Yes, your unrealized gains will shrink. Yes, the gains will eventually roll back up later in the year. No, you probably won’t outsmart the market by overtrading the summer chop. Yes, the Crab’s chop will most likely cause real, realized losses.
I’m not trying to be smart here, I’m trying to be as patient as possible.
stay safe homies,
Hix0n 🫡
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